Rulings ( 11528 results )

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Income tax Appellate Tribunal

ITAT:Rejects Sec 92A(1) application on standalone basis sans Sec 92A(2) conditions fulfillment; Distinguishes earlier order

Mar 02, 2020
  • In Favour of Assessee
  • Citation Number : TS-161-ITAT-2020(Mum)-TP
  • Tax Payer : Kaybee Pvt Ltd
Income tax Appellate Tribunal

ITAT: Sets aside DRP’s non-speaking order on comparables selection, ALP-determination for contract manufacturer

Mar 02, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-160-ITAT-2020(Bang)-TP
  • Tax Payer : TE Connectivity India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds AMP-adjustment deletion absent existence of agreement with AE; Follows earlier order

Mar 02, 2020
  • In Favour of Assessee
  • Citation Number : TS-159-ITAT-2020(Mum)-TP
  • Tax Payer : Kellogg India Private Limited
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)’s restriction of corporate guarantee ALP to 0.5%; Follows precedents

Mar 02, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-158-ITAT-2020(Mum)-TP
  • Tax Payer : Aditya Birla Nuvo Limited
Income tax Appellate Tribunal

ITAT:Appeal non-filing doesn’t tantamount to acceptance of TP-adjustment; Deletes sec.271(1)(c) penalty

Mar 02, 2020
  • In Favour of Assessee
  • Citation Number : TS-157-ITAT-2020(DEL)-TP
  • Tax Payer : Honda Trading Corporation India Pvt Ltd
High Court

HC: Dismisses Revenue’s appeal challenging ITAT’s comparables selection absent substantial question of law

Feb 28, 2020
  • In Favour of Assessee
  • Citation Number : TS-156-HC-2020(BOM)-TP
  • Tax Payer : Eight Roads Investment Advisors Pvt Ltd (Formerly known as FIL Capital Advisors India Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT: Rejects Nil-ALP determination for intra-group services sans prescribed method application; Turns down ‘Benefit-test’

Feb 28, 2020
  • In Favour of Assessee
  • Citation Number : TS-155-ITAT-2020(Mum)-TP
  • Tax Payer : Millward Brown Market Research Services India Private Limited
Income tax Appellate Tribunal

ITAT: Treats final assessment order u/s. 144C(13) as ‘time-barred’ considering objections before DRP held ‘invalid’

Feb 28, 2020
  • In Favour of Assessee
  • Citation Number : TS-154-ITAT-2020(PUN)-TP
  • Tax Payer : TDK Electronics AG (Formerly known as EPCOS AG)
Income tax Appellate Tribunal

ITAT: Excludes Government entities, companies with high-RPT and functional dissimilarity for channel distributor

Feb 27, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-152-ITAT-2020(Mum)-TP
  • Tax Payer : NGC NETWORK (INDIA) PRIVATE LIMITED
Income tax Appellate Tribunal

ITAT: Includes comparable meeting turnover criteria and absent DRP’s comment on functional disparity

Feb 27, 2020
  • In Favour of Assessee
  • Citation Number : TS-151-ITAT-2020(Mum)-TP
  • Tax Payer : Schindler India Private Limtied
Income tax Appellate Tribunal

ITAT: Excludes Ladderup, Motilal Oswal for non-binding investment advisor; Follows precedents

Feb 27, 2020
  • In Favour of Assessee
  • Citation Number : TS-150-ITAT-2020(Mum)-TP
  • Tax Payer : Kitara Capital Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Assessment on non-existing amalgamated entity voi-ab-initio & unsustainable; Follows Maruti Suzuki SC-ruling

Feb 27, 2020
  • In Favour of Assessee
  • Citation Number : TS-149-ITAT-2020(Mum)-TP
  • Tax Payer : Siemens Limited (Successor in Interest to Siemens VIA Metals Technologies Private Limited)
Income tax Appellate Tribunal

ITAT: Rejects Nil-ALP for services provided by AE; Disallowance u/s.37 beyond TPO's jurisdiction

Feb 27, 2020
  • In Favour of Assessee
  • Citation Number : TS-148-ITAT-2020(DEL)-TP
  • Tax Payer : Motorola Mobility Chennai Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables selection for software developer; Treats FOREX as operating item

Feb 26, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-147-ITAT-2020(Bang)-TP
  • Tax Payer : BrocadeCommunications Systems Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment towards interest on receivables for debt-free assessee; Follows Bechtel HC-ruling

Feb 26, 2020
  • In Favour of Assessee
  • Citation Number : TS-146-ITAT-2020(DEL)-TP
  • Tax Payer : VOSSLOH BEEKAY CASTINGS LTD
Income tax Appellate Tribunal

ITAT: Excludes comparables citing functional dissimilarity, outsourcing of work, extraordinary event for ITeS-provider

Feb 26, 2020
  • In Favour of Assessee
  • Citation Number : TS-145-ITAT-2020(Mum)-TP
  • Tax Payer : Travelex India Private Limited
Income tax Appellate Tribunal

ITAT:Admits additional evidence; Remits TP-adjustment on account of cost reimbursement

Feb 26, 2020
  • In Favour of Assessee
  • Citation Number : TS-144-ITAT-2020(Mum)-TP
  • Tax Payer : Kodak India Pvt Ltd (Formerly Kodak India Ltd.)
Income tax Appellate Tribunal

ITAT: Deletes intra-group services TP-adjustment; Considers AE's AAR-ruling demonstrating service receipt/benefit

Feb 26, 2020
  • In Favour of Assessee
  • Citation Number : TS-143-ITAT-2020(Mum)-TP
  • Tax Payer : Anheuser Busch InBev India Ltd. (Earlier known as SABMiller India Ltd.)
Income tax Appellate Tribunal

ITAT: Confirms interest-adjustment on OFCDs at LIBOR+ spread; Fixes corporate guarantee ALP at 1%

Feb 25, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-142-ITAT-2020(CHNY)-TP
  • Tax Payer : Siva Ventures Ltd (Now Merged with M/s.Siva Industries & Holdings Ltd.)
Income tax Appellate Tribunal

ITAT: MPS Ltd’s high end KPO activities incomparable to assessee’s BPO services; Excludes comparable

Feb 25, 2020
  • In Favour of Assessee
  • Citation Number : TS-141-ITAT-2020(PUN)-TP
  • Tax Payer : Symantec Software India Private Limited